Plano Building Sales Add Up With More on the Way

A string of high-profile building sales made Plano one of North Texas' top real estate investment markets in 2018.While downtown Dallas and Uptown often land some of the biggest commercial real estate sales, Plano in recent months racked up an impressive total of transactions.The $160 million purchase of the Granite Park VII office building near the Dallas North Tollway was one of the priciest purchases on record for a suburban Dallas building.And the $125 million sale of the former EDS headquarters campus was one of the largest at 1.6 million square feet.December's sale of most of the aging Collin Creek Mall on U.S. Highway 75 was the largest shopping center transaction in North Texas.A handful of smaller building sales in Plano's Legacy business park added to the totals.Some of last year's Legacy sales include: The Lincoln Legacy One building to Equus Capital. Lincoln Legacy II purchased by Pillar Commercial. *The Parkside on Legacy building to Cawley Partners.*1800 and 1820 Preston Park to Libitzky Property and Sunwest Real Estate Group."Outside of uptown, the Legacy market gets a lot of national attention because of all the name brand companies that have gone into that area and the perception of the long-term stability those companies bring to that area," said CBRE's John Alvarado."It's one of the most talked about markets in Texas and the country."More Plano building trades are on the way."We've done a lot up there and another one to announce in the coming weeks," said Jack Crews with JLL who brokered the sale of both Lincoln Legacy buildings. "There is a lot of interest in that market."  Continue reading...